Barometer Capital Management Inc. Reduces Position in Alphabet Inc (GOOG)

Barometer Capital Management Inc. lowered its stake in Alphabet Inc (NASDAQ:GOOG) by 88.6% during the first quarter, Holdings Channel reports. The institutional investor owned 800 shares of the information services provider’s stock after selling 6,200 shares during the period. Barometer Capital Management Inc.’s holdings in Alphabet were worth $664,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GOOG. State Street Corp increased its stake in Alphabet by 2.5% in the fourth quarter. State Street Corp now owns 12,030,811 shares of the information services provider’s stock valued at $9,285,625,000 after buying an additional 290,691 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Alphabet by 0.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,831,305 shares of the information services provider’s stock valued at $7,641,775,000 after buying an additional 65,873 shares in the last quarter. Dodge & Cox acquired a new stake in Alphabet during the fourth quarter valued at approximately $2,387,502,000. Norges Bank acquired a new stake in Alphabet during the fourth quarter valued at approximately $2,128,163,000. Finally, Bank of Montreal Can increased its stake in Alphabet by 12.0% in the first quarter. Bank of Montreal Can now owns 1,692,542 shares of the information services provider’s stock valued at $1,404,065,000 after buying an additional 181,085 shares in the last quarter. Institutional investors and hedge funds own 34.74% of the company’s stock.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Alphabet Inc (NASDAQ GOOG) opened at 981.08 on Thursday. The company has a market capitalization of $678.66 billion, a PE ratio of 33.15 and a beta of 0.94. Alphabet Inc has a 52-week low of $663.28 and a 52-week high of $988.25. The company has a 50 day moving average of $927.37 and a 200 day moving average of $839.94. Alphabet also saw unusually large options trading on Tuesday. Traders bought 13,491 put options on the company. This is an increase of 105% compared to the typical daily volume of 6,573 put options.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, topping the Zacks’ consensus estimate of $7.38 by $0.35. Alphabet had a return on equity of 15.33% and a net margin of 21.92%. The company had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $24.18 billion. During the same period in the previous year, the firm earned $7.50 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc will post $33.88 earnings per share for the current fiscal year.

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A number of research analysts have recently issued reports on GOOG shares. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. Robert W. Baird restated an “outperform” rating and issued a $960.00 price target on shares of Alphabet in a research report on Thursday, February 9th. BMO Capital Markets restated an “outperform” rating and issued a $1,005.00 price target on shares of Alphabet in a research report on Monday, March 27th. Nomura restated a “buy” rating and issued a $985.00 price target on shares of Alphabet in a research report on Monday, May 1st. Finally, Cowen and Company restated an “outperform” rating and issued a $1,050.00 price target on shares of Alphabet in a research report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and forty-one have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $981.49.

In other news, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $968.95, for a total transaction of $177,317.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP David C. Drummond sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $945.65, for a total value of $1,891,300.00. Following the sale, the senior vice president now directly owns 3,800 shares in the company, valued at $3,593,470. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,085 shares of company stock worth $37,765,241. 13.92% of the stock is owned by insiders.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:GOOG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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